Fitch Ratings has revised the outlooks of the ratings for Romania-based financial groups BCR and BRD-Groupe Societe Generale to negative from stable.

The agency has maintained the banks' Long-Term Issuer Default Ratings (IDRs) at BBB+.

This follows a similar action on Romania's sovereign rating.

The support-driven IDRs of both BCR and BRD, reflecting potential support from the banks' respective majority owners, Erste Group Bank(A/rating - watch negative) and Societe Generale (A/rating - watch negative), but are constrained by Romania's BBB+ Country Ceiling.

In Fitch's view, both Erste and SG continue to have a high propensity to support their Romanian subsidiaries, if needed, because their presence in Romania, where they enjoy high market shares and strong profitability, remains strategically important.

editor@romania-insider.com

(Photo source: Shutterstock)